Retirement Benefits

Articles about Retirement Benefits that may be useful to Massachusetts retirees.

Transplant Recipient Going Strong

SEPTEMBER 2001 - Able To Meet Donor Family - When
we last visited with Association member Tom Kent at his Roslindale home
in 1995, he was still recovering from a kidney transplant operation
that had occurred that September. Kent, a state retiree from the
Auditor’s office, had been suffering from renal disease since the
mid-80s.

Haverhill Retirees Organize

SEPTEMBER 2001
-
Firefighters Lead The Way - Led by a group of retired Haverhill firefighters, former employees of
the City of Haverhill are now in the process of organizing a Retired
Haverhill Employees Association.

PERAC Opinion Increases Pensions For Some Employees

JULY 2001 - Personal Use of “Town” Vehicles May Be Included As Compensation - Employees,
who have unlimited personal use of an employer-supplied (“town”)
vehicle, for which they are not subject to any income tax, may utilize
the value of that vehicle as compensation for retirement purposes,
according to the Public Employee Retirement Administration Commission
(PERAC).

Philbin Brings New Look To State Board

JULY 2001 - Reflects Her Enthusiasm - After
two years on the job as director of the State Retirement Board which
oversees the massive State Retirement System, Ellen Philbin is still as
enthusiastic as her first day at the helm.

House Ways And Means Increases Pension Appropriation

MAY 2001 -
Three Percent State, Teacher COLA Included - House Ways and Means Committee Chairman, John Rogers has increased the
state’s appropriation to the Commonwealth’s pension liability fund by
$52 million in the FY2002 House Budget.

Disability Retirees Seek Relief From Court

MARCH 2001 - Controversy Over Earned Income Continues - For
disability retirees, the controversy over what is earned income
continues. As reported, the Public Employee Retirement Administration
Commission (PERAC) has been at odds with certain disability retirees,
whom it claims have earned in excess of what the retirement law allows.

Boston Teachers: Their Pensions And Salaries

MARCH 2001 -
In our recent articles on state employees' and teachers' pensions and
salaries, we did not include Boston Teachers. Although Boston Teachers
are members of the City of Boston Retirement System, their costs are
picked up by the state and, therefore, are included in the
Commonwealth's funding schedule as reported by PERAC.

"Circuit Breaker" Update

MARCH 2001 -
While the state's new property tax relief law,("circuit breaker") went
into effect this year, members, eligible for the relief, must wait
until next year (2002) to actually apply and receive money back.

"Circuit Breaker" Tax Relief Available: Homeowners and Renters, 65 or Over, May Be Eligible

JANUARY 2001 - 
Estimated 130,000 Could Benefit - Beginning this year, a new property tax relief law takes effect, under
which members, who are age 65 or over, can receive either a credit on
their state income taxes or, even if they owe no taxes, a cash refund
up to $375.

Deferred Comp Update

NOVEMBER 2000 -
Since June when Aetna replaced Copeland as coordinator of the Mass
Deferred Compensation Program, Association members, who participate in
it, have contacted us to discuss the changes. Here's some of the
frequent topics of conversation.